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Taxes on Income (Tables)

12 Months Ended

Jan. 03, 2015

Income Tax Disclosure [Abstract]

Summary of Income Tax Provision for Continuing Operations

The income tax provision for continuing operations is made up of the following components:

(In thousands)		January 3, 2015			December 28, 2013			March 31, 2013
Currently payable:
Federal		$	27,015		$	3,897		$	17,056
State			777			510			2,490
Total currently payable			27,792			4,407			19,546
Deferred:
Federal			3,362			531			(3,361	)
State			175			(4,097	)		(760	)
Total deferred			3,537			(3,566	)		(4,121	)
Total		$	31,329		$	841		$	15,425

Reconciliation of Statutory Federal Income Tax Rates

The effective income tax rates are different from the statutory federal income tax rates for the following reasons:

		January 3, 2015			December 28, 2013			March 30, 2013
Federal statutory income tax rate			35.0	%		35.0	%		35.0	%
State taxes, net of federal income tax benefit			2.9			(112.7	)		2.6
Charitable product donations			(0.4	)		(13.4	)		(0.8	)
Non-deductible merger expenses			-			101.3			—
Change in tax contingencies			(2.7	)		36.9			0.3
Domestic product activities deduction			(0.2	)		(8.6	)		(0.2	)
Non-deductible expenses			0.9			3.8			0.5
Other, net			(0.9	)		(1.7	)		(1.7	)
Effective income tax rate			34.6	%		40.6	%		35.7	%

Summary of Deferred Tax Assets and Liabilities

Deferred tax assets and liabilities resulting from temporary differences as of January 3, 2015 and December 28, 2013 are as follows:

(In thousands)		January 3, 2015			December 28, 2013
Deferred tax assets:
Employee benefits		$	29,842		$	29,417
Accrued workers’ compensation			3,074			4,216
Allowance for doubtful accounts			2,951			2,927
Intangible assets			1,128			1,945
Restructuring			1,947			2,244
Deferred revenue			1,843			2,401
Accrued rent			4,635			4,551
Accrued insurance			1,107			1,322
All other			5,627			3,776
Total deferred tax assets			52,154			52,799
Deferred tax liabilities:
Property and equipment			47,860			53,279
Inventory			51,616			50,514
Goodwill			53,628			44,082
Convertible debt interest			789			1,055
Leases			10,585			8,912
All other			1,402			1,616
Total deferred tax liabilities			165,880			159,458
Net deferred tax liability		$	(113,726	)	$	(106,659	)

Reconciliation of Unrecognized Tax Benefits

A reconciliation of the beginning and ending amount of unrecognized tax benefits is as follows:

(In thousands)		January 3, 2015			December 28, 2013
Balance at beginning of year		$	8,805		$	2,648
Liability assumed in merger			-			1,754
Gross increases – tax positions taken in prior years			161			16
Gross decreases – tax positions taken in prior years			(5,812	)		(1,338)
Gross increases – tax positions taken in current year			650			5,725
Lapse of statute of limitations			(1,625	)		-
Balance at end of year		$	2,179		$	8,805

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Tabular disclosure of the components of income tax expense attributable to continuing operations for each year presented including, but not limited to: current tax expense (benefit), deferred tax expense (benefit), investment tax credits, government grants, the benefits of operating loss carryforwards, tax expense that results from allocating certain tax benefits either directly to contributed capital or to reduce goodwill or other noncurrent intangible assets of an acquired entity, adjustments of a deferred tax liability or asset for enacted changes in tax laws or rates or a change in the tax status of the entity, and adjustments of the beginning-of-the-year balances of a valuation allowance because of a change in circumstances that causes a change in judgment about the realizability of the related deferred tax asset in future years.

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Tabular disclosure of the components of net deferred tax asset or liability recognized in an entity's statement of financial position, including the following: the total of all deferred tax liabilities, the total of all deferred tax assets, the total valuation allowance recognized for deferred tax assets.

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Tabular disclosure of the reconciliation using percentage or dollar amounts of the reported amount of income tax expense attributable to continuing operations for the year to the amount of income tax expense that would result from applying domestic federal statutory tax rates to pretax income from continuing operations.

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Tabular disclosure of the change in unrecognized tax benefits.

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